IIC Supports the Development of Commerce and Industry in Bolivia
Loan of US$400,000 to Camsa Industria y Comercio S.A. will enable the expansion of its line of mass consumption goods
Santa Cruz, Bolivia, December 1, 2014 — A loan of US$400,000 provided by the Inter-American Investment Corporation (IIC) to Bolivian family-owned company Camsa Industria y Comercio S.A. (CAMSA) will enable the enterprise to launch its project to package and market chocolate drink mix in Santa Cruz, Bolivia.
The approved loan is part of FINPYME Credit, an IIC program to finance small and medium–size enterprises (SMEs). This financing will enable the enterprise to purchase machinery and equipment and provide it working capital.
“We are delighted with the loan as a sign of the IIC’s valuable contribution. It marks a great opportunity to diversify our commercial management to address new short term challenges, which will help to strengthen the product portfolio that we currently offer,” said Darío Camhi Testa, CAMSA’s General Manager.
“With this financing, the IIC contributes to Bolivia’s economic development and also helps an SME to expand its product line and thereby become more competitive and create jobs,” said Ignacio González Darriulat, IIC financial analyst in charge of the operation.
FINPYME Credit is a small-loans program that provides competitive financing to SMEs in Latin America and the Caribbean. The loans range from US$100,000 to US$600,000 and are available to businesses from various productive sectors. FINPYME Credit is offered in Bolivia, among other countries of the region, and supports small companies looking to increase their sales by financing investments in working capital as well as fixed assets.
CAMSA is a Bolivian enterprise located in the city of Santa Cruz. It was founded in 2002 and sells mass consumption goods. It currently has three product lines: major household appliances, energy products (such as car batteries), and lighting and cleaning products.
About the IIC
The IIC, a member of the Inter-American Development Bank (IDB) Group, promotes private-sector development in Latin America and the Caribbean with a focus on small and medium-sized enterprises (SMEs). We help companies streamline management processes and provide them with financing in the form of equity investments, loans, and guarantees, as well as innovative technical assistance, advisory services, and knowledge products. In 2013, the IIC approved 71 operations totaling US$415.4 million. Since its inception in 1989, the IIC has approved more than 800 direct loans to SMEs and financial intermediaries, for a total of US$5.21 billion. An additional US$3.01 billion has been mobilized through cofinancing and syndication agreements. For more information on the IIC, visit www.iic.org.
Contact: Ignacio González Darriulat
Telephone: +598 2915 3696 in Montevideo, Uruguay